Monetary Authority of Singapore
Singapore warns inflation will stay elevated in near term
Singapore on Wednesday reported annual inflation of 5.5 percent for December, slightly down from November's three-year high of 5.7 percent, but it warned that cost pressures will stay elevated for a few more months before easing.
"Year-on-year inflation in CPI-All Items will likely remain elevated over the next few months," the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) said in a joint statement.
Singapore CPI to stay over 5pc next few months
Singapore's annual inflation may stay above 5 percent for several months due to the continued rise in housing and transport costs, the central bank said in a report on its website.
The Monetary Authority of Singapore (MAS) had said in July it expected the consumer price index to rise to slightly above 5 percent in the next two months before falling, but its latest comments suggest inflation will remain elevated for a longer period of time.
